Square, a payments company, has just announced to give the grant to Bitcoin developers who will be making a highly user-friendly wallet. The announcement was made via the Twitter account of the firm on October 30, 2020. The firm gave a shoutout to the developer Maggie Valentine, who is working for a blockchain startup she256. The firm mentioned that she will completely simplify the wallet by removing all the technical jargon and making it user-friendly.
Giving trick-or-treaters Open Dimes and Square Crypto grants this year. Speaking of which, this one goes to Maggie Valentine (@magglevalentine), a designer working to simplify wallet onboarding flows by reducing technical jargon and increasing user education.
— Square Crypto (@sqcrypto) October 30, 2020
Square Is Focused on Developing Bitcoin Network Through Grant
The reason why Square is giving grants to the developers is that the firm is focused on the development of the Bitcoin network. Valentine has mentioned the reason why people are reluctant in using Bitcoin or its wallet because they are highly complicated. According to her, technical jargon and unfamiliar user concepts are the two main factors that increase the complications.
Maggie Valentine believes that most people are still unaware of the benefits the technology is having and how it can change the current financial system. In order to drive more people towards it, there is a need to create a design that is less complicated and more user-friendly. She will look through the different sections of the wallet, along with keeping the needs of different types of users in mind. She will design a new wallet by understanding the needs of non-crypto users or the ones who are new to this ecosystem.
Pushing For Wider Crypto Adoption
Square mentioned in the announcement, “difficult wallet UX shouldn’t determine who benefits from Bitcoin.” It has been seen that the firm is currently pushing for wider crypto adoption. This could be said because it has recently bought cryptocurrency worth $50 million, which is quite a huge amount. Over the top, this step of giving grants to develop a user-friendly wallet is also indicating the same.